Current Trend= The trend remained down the entire day
Today I only looked for short trades.
News events to watch for today :
3:45 am EDT- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.4696 with a stop at the most recent swing high at 1.4768. Since I was 46 pips away from the nearest 50 or 00 level, I put my initial target at 1.4650.
Entry: Short at 1.4696
Initial Target: 1.4650
5:15 am EDT- My target was hit. Price did not make a clean break so I took my final profit. I exited at 1.4650.
Trade Result: +46 pips (NOT INCLUDING SPREAD) R-Multiple: 0.63
News events to watch for tomorrow :
- 10:00am EDT– US CB Consumer Confidence